On track to meet full-year AUM forecast
AUM reached £24.3bn on 31 Dec 21, nine months into the financial year, up £3.4bn or 17% over the period (1 Apr 21: £20.9bn), and 28% y-o-y (31 Dec 20: £19.0bn). Polar once again delivered a strong investment performance - its main differentiator and competitive advantage - which accounted for £2.6bn of the AUM increase. Net inflows were solid at £0.8bn. This growth is largely in line with the trajectory required to meet our FY22 year-end forecast of £25.5bn.Performance fee profits (net of staff allocations) for the period were £4.3m (most performance fees crystallise at the end of December), up from the 30 Sep 21 mark-to-market figure of £2.0m. This reflects a strong performance from Polar’s investment teams over the quarter.
Our fundamental value remains 1,400p per share, which after the recent share price fall to 700p (closing price on 12 Jan 22), is now double the current share price.
Polar Capital Holdings is an investment management company providing professional and institutional investors a range of geographical and sector funds. Co. manages 25 funds and four managed accounts across a range of long only and alternative products. Co. has one class of business, being the provision of investment management and advisory services. As of Mar 31 2017, Co. had total assets under management of £9.27 billion.
Equity Development enables companies to become better understood and supported by investors. Since our launch in 1996 we have consistently focused on helping our clients improve their communication and relationships with both existing and potential shareholders. Our clients have come from a wide variety of sectors and domiciles, are both private and quoted and range in size from micro-cap to $multi-billions. We offer free access to company research notes written by experienced analysts. These notes include detailed forecasts, financial models and a fair value. We host regular Private Investor Forums at which investors have the opportunity to hear company directors present, and to ask questions. These are free to attend. We broadcast live Webinars with company management that include active Q&A. We also make the recordings available online. We arrange face to face meetings between private investors and company management. We are active users of Twitter, commenting daily on company news, share price moves, Directors’ Dealings, Equity Development Research Notes & Events.
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